Mortgage News
Newcastle BS adds 60 per cent LTV remortgages
Newcastle Intermediaries has launched 60 per cent loan to value (LTV) remortgages to its range.
The two products have rates of 2.95 per cent for the two-year fix, and 3.1 per cent for the five-year fix.
Both deals have no product fees, offer a free standard valuation and free legal fees, so long as the borrower chooses the mutual’s selected solicitor.
The two-year fixed deal has an early repayment charge (ERC) of two per cent in the first year, down to one per cent in the second.
The five-year fixed deal has an ERC of five per cent in the first year, and this drops by one percentile annually to one per cent in the final year.
Both allow ERC-free overpayments of up to 10 per cent each year.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
Franco Di Pietro (pictured), head of intermediary mortgages at Newcastle Intermediaries, said: “We know that with the rising cost of living and recent increases to base rate, even more homeowners are looking to remortgage on the best possible terms.
“By introducing two new 60 per cent LTV products and assistance with fees, we’re giving brokers and their clients some competitive options backed by our flexible approach to underwriting and leading service levels.”